UNITED STATES BANKRUPTCY COURT

In re: Case No. 16-24660

EASTERN DIVISION

Debtor(s)

NORTHERN DISTRICT OF ILLINOIS

LI, JOHN T. §

§

§

§

CHAPTER 7 TRUSTEE’S FINAL ACCOUNT AND DISTRIBUTION

REPORT CERTIFICATION THAT THE ESTATE HAS BEEN FULLY

ADMINISTERED AND APPLICATION TO BE DISCHARGED (TDR)

$436,458.88

$7,550.00

1) All funds on hand have been distributed in accordance with the Trustee’s Final Report and, if

applicable, any order of the Court modifying the Final Report. The case is fully administered and all assets and

funds which have come under the trustee’s control in this case have been properly accounted for as provided

by law. The trustee hereby requests to be discharged from further duties as a trustee.

2) A summary of assets abandoned, assets exempt, total distributions to claimants, claims discharged

without payment, and expenses of administration is provided below:

Assets Abandoned:

(without deducting any secured claims)

Total Distributions to Claimants:

Total Expenses of Administration:

Assets Exempt:

Claims Discharged

Without Payment:

$11,550.00

$2,211.99

$17,788.01

3) Total gross receipts of $20,000.00 (see Exhibit 1), minus funds paid to the debtor and third parties

of $0.00 (see Exhibit 2), yielded net receipts of $20,000.00 from the liquidation of the property of the estate,

which was distributed as follows:

Norman B. Newman, chapter 7 trustee, submits this Final Account, Certification that the Estate has

been Fully Administered and Application to be Discharged.

UST Form 101-7-TDR ( 10 /1/2010)

Case 16-24660 Doc 41 Filed 09/26/18 Entered 09/26/18 16:35:41 Desc Main

 Document Page 1 of 10
SECURED CLAIMS (from

Exhibit 3)

CHAPTER 7 ADMIN. FEES AND

CHARGES (from Exhibit 4)

PRIORITY CLAIMS:

PRIOR CHAPTER ADMIN.

FEES AND CHARGES (from

Exhibit 5)

PRIORITY UNSECURED CLAIMS

(from Exhibit 6)

GENERAL UNSECURED CLAIMS

(from Exhibit 7)

TOTAL DISBURSEMENTS

CLAIMS

SCHEDULED

CLAIMS

ASSERTED

CLAIMS

ALLOWED

CLAIMS

PAID

$470,730.00 $0.00 $0.00 $0.00

$0.00 $27,498.02 $27,498.12 $17,788.01

$0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00

$416,068.00 $44,239.87 $44,239.87 $2,211.99

$886,798.00 $71,737.89 $71,737.99 $20,000.00

4) This case was originally filed under chapter 7 on 08/01/2016. The case was pending for 25

months.

5) All estate bank statements, deposit slips, and canceled checks have been submitted to the United States

Trustee.

6) An individual estate property record and report showing the final accounting of the assets of the estate is

attached as Exhibit 8. The cash receipts and disbursements records for each estate bank account, showing the final

accounting of the receipts and disbursements of estate funds is attached as Exhibit 9.

Pursuant to Fed R Bank P 5009, I hereby certify, under penalty of perjury, that the foregoing report is true

and correct.

Dated: By:

Trustee

09/07/2018 /s/ Norman B. Newman

STATEMENT This Uniform Form is associated with an open bankruptcy case, therefore, Paperwork

Reduction Act exemption 5 C.F.R. § 1320.4(a)(2) applies.

UST Form 101-7-TDR ( 10 /1/2010)

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EXHIBIT 1 – GROSS RECEIPTS

DESCRIPTION UNIFORM

TRAN. CODE1

$ AMOUNT

RECEIVED

Real Estate - 303 Highwood Ave, Highwood 1110-000 $6,666.67

Real Estate - 237 High St., Highwood 1110-000 $6,666.67

Real Estate - 226 Evolution Ave, Highwood 1110-000 $6,666.66

TOTAL GROSS RECEIPTS $20,000.00

1The Uniform Transaction Code is an accounting code assigned by the trustee for statistical reporting purposes.

EXHIBITS TO

FINAL ACCOUNT

EXHIBIT 2 – FUNDS PAID TO DEBTOR & THIRD PARTIES

PAYEE DESCRIPTION UNIFORM

TRAN. CODE

$ AMOUNT

PAID

None

EXHIBIT 3 - SECURED CLAIMS

Claim

NO. CLAIMANT

UNIFORM

TRAN.

CODE

CLAIMS

SCHEDULED

(from Form 6D)

CLAIMS

ASSERTED

CLAIMS

ALLOWED

CLAIMS

PAID

N/F Northbrook Bank &

Trust

4110-000 $148,496.00 NA NA NA

N/F Northbrook Bank &

Trust

4110-000 $193,634.00 NA NA NA

N/F Northbrook Bank &

Trust

4110-000 $128,600.00 NA NA NA

TOTAL SECURED $470,730.00 $0.00 $0.00 $0.00

UST Form 101-7-TDR ( 10 /1/2010)

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EXHIBIT 4 – CHAPTER 7 ADMINISTRATIVE FEES and CHARGES

PAYEE

UNIFORM

TRAN.

CODE

CLAIMS

SCHEDULED

CLAIMS

ASSERTED

CLAIMS

ALLOWED

CLAIMS

PAID

Trustee, Fees - Norman B. Newman 2100-000 NA $2,750.00 $2,750.00 $2,750.00

Attorney for Trustee Fees - MUCH

P.C. SHELIST

3110-000 NA $19,814.00 $19,814.10 $10,103.99

Attorney for Trustee, Expenses -

MUCH P.C. SHELIST

3120-000 NA $358.10 $358.10 $358.10

Bond Payments - BOND 2300-000 NA $4.71 $4.71 $4.71

Banking and Technology Service

Fee - Rabobank, N.A.

2600-000 NA $242.21 $242.21 $242.21

Other State or Local Taxes (postpetition) - Illinois Department of

Revenue

2820-000 NA $776.00 $776.00 $776.00

Accountant for Trustee Fees (Other

Firm) - MILLER COOPER

3410-000 NA $3,553.00 $3,553.00 $3,553.00

TOTAL CHAPTER 7 ADMIN. FEES

AND CHARGES NA $27,498.02 $27,498.12 $17,788.01

EXHIBIT 5 – PRIOR CHAPTER ADMINISTRATIVE FEES and CHARGES

PAYEE UNIFORM

TRAN. CODE

CLAIMS

SCHEDULED

CLAIMS

ASSERTED

CLAIMS

ALLOWED

CLAIMS

PAID

None

EXHIBIT 6 – PRIORITY UNSECURED CLAIMS

CLAIM

NO. CLAIMANT

UNIFORM

TRAN.

CODE

CLAIMS

SCHEDULED

(from Form 6E)

CLAIMS

ASSERTED

(from Proofs of

Claim)

CLAIMS

ALLOWED

CLAIMS

PAID

None

UST Form 101-7-TDR ( 10 /1/2010)

Case 16-24660 Doc 41 Filed 09/26/18 Entered 09/26/18 16:35:41 Desc Main

 Document Page 4 of 10
EXHIBIT 7 – GENERAL UNSECURED CLAIMS

CLAIM NO. CLAIMANT

UNIFORM

TRAN.

CODE

CLAIMS

SCHEDULED

(from Form 6F)

CLAIMS

ASSERTED

(from Proofs of

Claim)

CLAIMS

ALLOWED

CLAIMS

PAID

1 Toyota Motor Credit

Corporationc/o Becket

and Lee LLP

7100-000 NA $22,739.39 $22,739.39 $1,136.97

2 American Express

Centurion Bankc/o

Becket and Lee LLP

7100-000 $21,637.00 $21,500.48 $21,500.48 $1,075.02

N/F AMEX 7100-000 $21,637.00 NA NA NA

N/F Bk Of Amer 7100-000 $0.00 NA NA NA

N/F Bk Of Amer 7100-000 $0.00 NA NA NA

N/F Chase Auto 7100-000 $6,183.00 NA NA NA

N/F Chase Card 7100-000 $10,546.00 NA NA NA

N/F Chasecard 7100-000 $12,158.00 NA NA NA

N/F Chicago Cosmetic

Surgery & Dermatol

7100-000 $78.00 NA NA NA

N/F Citi 7100-000 $10,711.00 NA NA NA

N/F Commonwealth Edison 7100-000 $2,039.00 NA NA NA

N/F DK Condo, A Draper &

Kramer Company

7100-000 $0.00 NA NA NA

N/F Glenbrook Pediatrics

SC

7100-000 $235.00 NA NA NA

N/F II Bone & Joine

Institute

7100-000 $0.00 NA NA NA

N/F JP Morgan Chae Bank

NA

7100-000 $815.00 NA NA NA

N/F M3 Financial Services 7100-000 $1,156.00 NA NA NA

N/F Nationstar Mortgage LI 7100-000 $228,162.00 NA NA NA

UST Form 101-7-TDR ( 10 /1/2010)

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N/F Northern Trust Bank 7100-000 $100,000.00 NA NA NA

N/F Northshore Univ Health

System

7100-000 $388.00 NA NA NA

N/F Quest Diagnostics 7100-000 $323.00 NA NA NA

N/F RCS 7100-000 $0.00 NA NA NA

N/F Toyota Motor Credit Co 7100-000 $0.00 NA NA NA

TOTAL GENERAL

UNSECURED CLAIMS $416,068.00 $44,239.87 $44,239.87 $2,211.99

UST Form 101-7-TDR ( 10 /1/2010)

Case 16-24660 Doc 41 Filed 09/26/18 Entered 09/26/18 16:35:41 Desc Main

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Asset Cases

Individual Estate Property Record and Report

Form 1

Page: 1

Case No.:

Claims Bar Date:

Case Name:

For Period Ending:

Trustee Name:

§ 341(a) Meeting Date:

Date Filed (f) or Converted (c):

16-24660

LI, JOHN T.

(330270) Norman B. Newman

08/01/2016 (f)

08/29/2016

09/07/2018 12/20/2017

Exhibit 8

1

Asset Description

(Scheduled And Unscheduled (u) Property)

Ref. #

2

Petition/

Unscheduled

Values

3

Estimated Net Value

(Value Determined By

Trustee,

Less Liens, Exemptions,

and Other Costs)

4

Property Formally

Abandoned

OA=§554(a)

abandon.

5

Sale/Funds

Received by the

Estate

6

Asset Fully

Administered (FA)/

Gross Value of

Remaining Assets

1 Real Estate - 237 High St., Highwood

Property held thru membership interest in JTL

Properties, LLC

244,000.00 66,400.00 6,666.67 FA

2 Real Estate - 303 Highwood Ave,

Highwood

Property held thru membership interest in JTL

Properties, LLC

225,000.00 31,366.00 6,666.67 FA

3 Real Estate - 226 Evolution Ave,

Highwood

Property held thru membership interest in JTL2

Properties

214,000.00 46,504.00 6,666.66 FA

4 Deposits of money: Checking Account

Glenview Sta

6,000.00 2,000.00 0.00 FA

5 Household Goods & Furniture 500.00 0.00 0.00 FA

6 TV & Electronics 500.00 500.00 0.00 FA

7 Wearing Apparel 650.00 0.00 0.00 FA

8 Prospect Equities Stock 0.00 0.00 0.00 FA

9 Ameritrade Stock -1 share Gopro 900.00 900.00 0.00 FA

10 2003 Lexus GS300. Entire property

value: $3,000.

3,000.00 600.00 0.00 FA

10 Assets Totals (Excluding unknown values) $694,550.00 $148,270.00 $20,000.00 $0.00

Initial Projected Date Of Final Report (TFR): 12/31/2017 Current Projected Date Of Final Report (TFR): 07/13/2018 (Actual)

Sold Debtor's membership interests in two Limited Liability Companies which own 3 parcels of real estate in

Highwood, Illinois. Final Report filed-hearing set for 8-7-18.

Major Activities Affecting Case Closing:

UST Form 101-7-TDR ( 10 /1/2010)

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 Document Page 7 of 10
Cash Receipts And Disbursements Record

Form 2

Page: 1

Exhibit 9

09/07/2018 Blanket Bond (per case limit):

N/A

Norman B. Newman (330270)

Taxpayer ID #:

LI, JOHN T.

Trustee Name:

$5,000,000.00

******5966 Checking Account

Bank Name:

**-***5753

Case No.: 16-24660

Account #:

Separate Bond (if applicable):

Case Name: Rabobank, N.A.

For Period Ending:

7

Uniform

Tran. Code

Trans. Paid To / Received From Description of Transaction

Date

5 6

Check or

Ref. #

1 2 3 4

Disbursement Account Balance

$

Deposit

$

09/19/17 Sale of Membership Interests in

LLC

Teresa M. Li 20,000.00 20,000.00

{1} 1110-000 20,000.00

$6,666.67

{2} 1110-000 20,000.00

$6,666.67

{3} 1110-000 20,000.00

$6,666.66

09/29/17 Bank and Technology Services 10.00

Fee

Rabobank, N.A. 2600-000 19,990.00

10/31/17 Bank and Technology Services 30.66

Fees

Rabobank, N.A. 2600-000 19,959.34

11/30/17 Bank and Technology Services 28.70

Fees

Rabobank, N.A. 2600-000 19,930.64

12/29/17 Bank and Technology Services 27.70

Fees

Rabobank, N.A. 2600-000 19,902.94

01/31/18 Bank and Technology Services 31.48

Fees

Rabobank, N.A. 2600-000 19,871.46

02/14/18 101 International Sureties, Ltd. 016073584; Term: 2/1/8 to 2/1/19 2300-000 4.71 19,866.75

02/28/18 Bank and Technology Services 26.67

Fees

Rabobank, N.A. 2600-000 19,840.08

03/30/18 Bank and Technology Services 28.53

Fees

Rabobank, N.A. 2600-000 19,811.55

04/30/18 Bank and Technology Services 27.54

Fees

Rabobank, N.A. 2600-000 19,784.01

05/14/18 2017 IL-1041-V 776.00

FEIN: 30-6585753

102 Illinois Department of Revenue 2820-000 19,008.01

05/31/18 Bank and Technology Services 30.93

Fees

Rabobank, N.A. 2600-000 18,977.08

08/07/18 First and Final Distribution 3,553.00

payment - Dividend paid at

100.00% of $3,553.00; Claim #

MC.

103 MILLER COOPER 3410-000 15,424.08

08/07/18 First and Final Distribution 2,750.00

payment - Dividend paid at

100.00% of $2,750.00; Claim #

NBN.

104 Norman B. Newman 2100-000 12,674.08

08/07/18 First and Final Distribution 358.10

payment - Dividend paid at

100.00% of $358.10; Claim # MSE.

105 MUCH P.C. SHELIST 3120-000 12,315.98

08/07/18 First and Final Distribution 10,103.99

payment - Dividend paid at

50.99% of $19,814.10; Claim #

MS-F.

106 MUCH P.C. SHELIST 3110-000 2,211.99

Page Subtotals: $20,000.00 $17,788.01 true

{ } Asset Reference(s) UST Form 101-7-TDR ( 10 /1/2010) ! - transaction has not been cleared

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 Document Page 8 of 10
Cash Receipts And Disbursements Record

Form 2

Page: 2

Exhibit 9

09/07/2018 Blanket Bond (per case limit):

N/A

Norman B. Newman (330270)

Taxpayer ID #:

LI, JOHN T.

Trustee Name:

$5,000,000.00

******5966 Checking Account

Bank Name:

**-***5753

Case No.: 16-24660

Account #:

Separate Bond (if applicable):

Case Name: Rabobank, N.A.

For Period Ending:

7

Uniform

Tran. Code

Trans. Paid To / Received From Description of Transaction

Date

5 6

Check or

Ref. #

1 2 3 4

Disbursement Account Balance

$

Deposit

$

08/07/18 First and Final Distribution 1,136.97

payment - Dividend paid at 5.00%

of $22,739.39; Claim # 1.

107 Toyota Motor Credit

Corporationc/o Becket and Lee

LLP

7100-000 1,075.02

08/07/18 First and Final Distribution 1,075.02

payment - Dividend paid at 5.00%

of $21,500.48; Claim # 2.

108 American Express Centurion

Bankc/o Becket and Lee LLP

7100-000 0.00

Less: Payments to Debtors

20,000.00 20,000.00

20,000.00 20,000.00

NET Receipts / Disbursements

$0.00

0.00

Less: Bank Transfers/CDs

Subtotal

0.00 0.00

COLUMN TOTALS

$20,000.00 $20,000.00

true

false

{ } Asset Reference(s) UST Form 101-7-TDR ( 10 /1/2010) ! - transaction has not been cleared

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 Document Page 9 of 10
Exhibit 9

Page: 3

Cash Receipts And Disbursements Record

Form 2

Blanket Bond (per case limit):

******5966 Checking Account

Rabobank, N.A.

For Period Ending: 09/07/2018

Norman B. Newman (330270)

LI, JOHN T.

Account #:

16-24660

N/A

Case No.:

Case Name:

Separate Bond (if applicable):

Trustee Name:

$5,000,000.00

Taxpayer ID #: **-***5753

Bank Name:

ACCOUNT

BALANCES

$20,000.00 $20,000.00

TOTAL - ALL ACCOUNTS NET

NET DEPOSITS DISBURSEMENTS

$0.00

******5966 Checking Account $20,000.00 $20,000.00 $0.00

UST Form 101-7-TDR (10 /1/2010)

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